SEEC does sharebuyback I told you so...
SEEC, Inc. Announces Stock Repurchase
Program
PR Newswire - July 20, 1998 09:35
PITTSBURGH, July 20 /PRNewswire/ -- SEEC, Inc. (Nasdaq: SEEC) today
announced that it plans to begin a stock repurchase program utilizing up to $3
million to buy shares of the Company's common stock from time to time on
the open market, subject to market conditions and other relevant factors. The
repurchased shares will be used to cover stock option exercises and for other
corporate purposes.
"We believe our stock represents a good investment and that a stock
repurchase program is an appropriate use of our resources in light of the
stock's underlying book and cash value per share relative to current market
prices, and in light our of growth prospects and new product introduction
plans," said Ravi Koka, President and CEO of SEEC.
About SEEC, Inc.
SEEC, Inc., (Nasdaq: SEEC) provides integrated and comprehensive
enterprise solutions -- including year 2000 conversion, reengineering, data
warehousing and web-enabled applications -- that enable large organizations
and third-party service providers to efficiently and effectively reengineer
legacy system applications and databases. SEEC's enterprise solutions
combine a suite of proven software products with well-defined repeatable
methodologies designed to improve the quality, productivity and effectiveness
of the reengineering process. SEEC's products currently support the major
programming languages that account for 94 percent of the world's legacy
applications, as well as the key databases that represent 90 percent of legacy
information, and new support is always being added in response to the
market's demand. SEEC's tools are helping government agencies, utilities,
manufacturing companies and financial and educational institutions achieve
significant savings while extending the life-span and value of business- critical
legacy applications. Visit SEEC's Web site at www.seec.com.
SOURCE SEEC, Inc.
/CONTACT: SEEC Investor Relations, 412-893-0490, or e-mail,
Investor_Relations@seec.com/
/Web site: seec.com
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